XRP News Today: Crypto Strategist Predicts 14% Gain for Ethereum as ETFs Buy 80,000 ETH

A crypto strategist, known for accurately predicting the peak of the 2021 digital asset cycle, has expressed optimism about a top-10 altcoin, suggesting it is on the brink of a significant breakout. The analyst, who goes by the pseudonym Pentoshi, shared his insights with his 870,200 followers on the social media platform X. According to Pentoshi, the payments altcoin XRP is showing bullish signs after reclaiming the lower bound of its trading range at $2.38. He also noted that XRP is demonstrating strength against Bitcoin (XRP/BTC), indicating a potential breakout.

Pentoshi described XRP's chart as "disgustingly good," even when compared to Bitcoin. He predicted that XRP could reach a minimum of $2.60 and potentially higher if it flips the current resistance level. The analyst highlighted that XRP has several tailwinds and has held up well over the past few months. At the time of writing, XRP was trading at 0.00002192 BTC, equivalent to $2.43.

In addition to his bullish outlook on XRP, Pentoshi also commented on Bitcoin's recent rally. He suggested that Bitcoin's latest surge could have more room to grow, especially if it flips the level around $110,000 into support. Pentoshi mentioned that a large purchase of Bitcoin by Michael Saylor, the founder and executive chairman of software firm Strategy, could further boost the flagship crypto asset's price. At the time of writing, Bitcoin was trading at $111,312, up 2.2% in the last 24 hours.

Pentoshi also shared his thoughts on Ethereum, stating that the altcoin could be on the verge of a breakout as ETH treasury companies emerge. He noted that ETH exchange-traded funds (ETFs) bought 80,000 ETH, exceeding the maximum daily issuance. Pentoshi predicted that if ETH can flip $2,800 into support, the altcoin could see a more than 14% price increase, potentially reaching $3,200. At the time of writing, Ethereum was trading at $2,767, up 4.3% in the last 24 hours.